On the margins of COP29 in Baku, Azerbaijan, the Asian Infrastructure Investment Bank (AIIB) and the Asian Development Bank (ADB) renewed their Memorandum of Understanding (MOU) to deepen cooperation in addressing Asia’s most pressing development challenges.
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The MOU was signed by AIIB President Jin Liqun and ADB President Masatsugu Asakawa, underscoring a shared commitment to climate action and adaptation, regional connectivity and private capital mobilization.
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Highlighting the longstanding partnership between AIIB and ADB, the renewal outlines a collaborative framework to enhance regional resilience and commitment to sustainable infrastructure development, aligned with the strategic priorities of both institutions.
“Strengthening our strategic partnership with ADB will mark a pivotal step forward, as the two Asia-focused MDBs work together to address Asia’s infrastructure needs, while leading climate transition in Asia and beyond,” said AIIB President Jin. “This enhanced MOU enables us to further leverage our combined expertise and resources to achieve greater impact, driving green, inclusive and resilient growth across the region.”
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ADB President Asakawa highlighted the collaboration’s importance, “The enhanced collaboration between ADB and AIIB reflects our shared vision for sustainable development and connectivity across Asia, as well as a collective responsibility to set and achieve bold climate ambitions. By working together, we can drive measurable, lasting results for the people of our region.”
As part of the MoU, AIIB and ADB plan to initiate a joint action plan focused on cofinancing and knowledge-sharing to accelerate the delivery of impactful projects. This partnership renewal positions both institutions to collectively address the challenges of an evolving global landscape and meet the growing needs of their member countries.
About AIIB
The Asian Infrastructure Investment Bank (AIIB) is a multilateral development bank whose mission is Financing Infrastructure for Tomorrow in Asia and beyond—infrastructure with sustainability at its core. We began operations in Beijing in 2016 and have since grown to 110 approved members worldwide. We are capitalized at USD100 billion and AAA-rated by the major international credit rating agencies. Collaborating with partners, AIIB meets clients’ needs by unlocking new capital and investing in infrastructure that is green, technology-enabled and promotes regional connectivity.
About ADB
The Asian Development Bank is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. Established in 1966, it is owned by 69 members — 49 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
